Zero- and lightly levered private operators throughout U.S. oil basins are on the lookout to buy—and not just where they operate currently. These five producers—in Wyoming, Oklahoma, Colorado and South Texas—share their plans.
The assets include six intrastate natural gas pipelines spanning approximately 1,400 miles in Alabama, Louisiana and Mississippi. The system has total capacity of more than 800 MMcf/d.
A panel of oil and gas capital experts discussed the steps private equity professionals need to take to recover from the severe downturn.
Bill Marko, managing director at Jefferies, says he sees permanent changes to the U.S. shale business resulting from the destruction to oil demand over the past several months.
An emphasis on relationships backed by operational expertise and experience has helped these two private-equity-backed midstream operators continue to perform.
David Baggett, founder and managing partner of Opportune, says oil and gas companies are focused on short-term survival and lowering costs, which can already be seen by massive capex cuts among producers and the historic plunge in rig counts.
EagleClaw in 2018 acquired natural gas pipeline operator Caprock Midstream Holdings from Energy Spectrum Capital and Caprock Midstream Management for $950 million.
Kayne Anderson will consolidate its two energy private equity teams and one of the managing partners, Chuck Yates, will exit the firm, a source familiar with the matter told Reuters.